Elon Musk Has Lost $182 Billion of His Wealth in Just 15 Months, and It's a Guinness World Record

Elon Musk, CEO of Tesla and SpaceX, now holds the record for the largest-ever loss of personal fortune in the Guinness World Record.

The report claims that the erratic businessman has lost about $180 billion in value since November 2021.

However, wealth is an approximation according to the Guinness world record. Still, Musk's total losses greatly exceed the previous record of $58.6 billion, established by Japanese tech investor Masayoshi Son in 2000, per Mint.

Forbes reports that Elon Musk's net worth has decreased from a high of $320 billion in 2021 to $138 billion as of January 2023, all due to the underperformance of Tesla shares.

Furthermore, Musk was dethroned as the world's wealthiest person by Frenchman and founder of luxury goods group LVMH (Louis Vuitton Mot Hennessy) Bernard Arnault, who is worth an estimated $190 billion.

Despite this gruesome Elon Musk Guinness World Record, he is still the world's second-richest person with $144.4 billion, according to the latest Forbes estimates.

Tesla Shares Continue To Drop, Affecting Elon Musk's Net Worth

After Musk gained control of Twitter in October 2022, Tesla shares plunged by 65 percent.

When the company's market cap hit a record $1 trillion in October 2021, the value of the electric vehicle manufacturer had fallen to about $349 billion.

Meanwhile, Tesla once again reduced the cost of its Model 3 and Model Y vehicles in China, the largest car market in the world.

In the United States, Tesla just concluded a year-end cash-back promotion on the same popular models, offering a whopping $7,500 off, Insider noted.

Investors have been anticipating further price reductions this year because of weaker demand.

To assist in financing his $44 billion acquisition of Twitter, Musk has also spent a significant portion of the year selling off Tesla stock.

In a Twitter Spaces conversation with investors at the end of last year, Musk stated that he would halt selling Tesla shares for "probably two years."

One Spaces user expressed concern that Musk's questionable political views and decisions to reinstate certain previously banned far-right voices on Twitter are damaging Tesla's reputation.

As a result, Musk became irritated and retorted, "I'm not going to suppress my views just to boost the stock price."

Elon Musk Plans to Step Down as Twitter CEO

Last month, Elon Musk announced that after he finds a replacement, he will stand down as chief executive of Twitter, Inc. but will continue to operate certain important divisions of the social media company, said NDTV.

"I will resign as CEO as soon as I find someone foolish enough to take the job! After that, I will just run the software & servers teams," he wrote on Twitter.

After users of Twitter voted for Musk to leave in a poll the billionaire conducted, this is the first time Musk has suggested stepping down as leader of the social media network.

An estimated 17.5 million persons participated in the survey, and 57.5% of them wanted Elon Musk to step down. He then stated he would accept the verdict and not challenge it.

He has not announced a specific departure date, and no replacement has been chosen.

This article is owned by Latin Post.

Written by: Bert Hoover

WATCH: Elon Musk's $182 billion net worth drop breaks world record - From KTVB